What are the requirements for getting a payment solution?

What are the requirements for getting a payment solution?

Two things are needed in order to accept credit cards online:

1. Payment gateway
2. Acquirer account

Acquirer account is delivered by an acquirer and the requirements to the webshop is that they uphold the law

The webshop needs to be registered to the owner of the URL, and the following elements need to visible on the webshop:

Contact info
Store name, VAT number, Address, Contact info, i.e. phone and mail

Pricing
Price of goods or services including all surcharges and VAT.
VAT on B2B-commerce is not a demand.

Terms and conditions easy accessible
Customers need to actively mark that they’ve read and accepted the terms and conditions before buying

Conditions regarding delivery
There need to be information pertaining when customers can expect to receive purchased goods or services. All customers have to disclose address and phone number during the purchase.

Capturing money
Only when the goods are sent payments are captured, unless you´re selling customised products

Right of cancellation
It explicitly has to written that withdrawal from the customer’s card occurs when the purchase is sent.
When a customer excises the right to cancellation, the webshop has to pay back the amount given including shipping cost. The webshop can demand that the customer covers return-shipping costs.

24 months free of charge guarantee
EU sales law gives the customer 24 months of free of charge guarantee

The guarantee can expire before 24 months if the product is not meant to last 24 months or by natural causes worn down.

Privacy policy
The webshop has to communicate that it respects the importance of privacy, and that it does not disclose information regarding customers to a third party, unless it is necessary to make a transaction.

It is also a requirement that the webshop does not sell customer name, address, e-mail, card information or personal data to a third party with the customer’s prior accept.

Visible Visa and MasterCard logos
These are required to be visible.

Hier können Sie eine Vorlage für die Geschäftsbedingungen herunterladen. Füllen Sie nur die Felder mit Ihren eigenen Daten aus – und schon können Sie die Geschäftsbedingungen als Ihre eigenen einfügen.

Beachten Sie bitte, dass es um eine Standardvorlage handelt. In einigen Branchen können andere Geschäftsbedingungen erforderlich sein. Deshalb können wir nicht garantieren, dass diese Geschäftsbedingungen zu Ihrem Handel passen.

Tel: +45 77 344 388

Telephone support
Monday – Friday: a.m. 8:00 to 8:00 p.m.
Saturday – Sunday: a.m. 8:00 to 8:00 p.m.

Email: support@pensopay.com